SLB Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
SLB Payout Ratio by year
Yearly range of SLB’s payout ratio from 2016 to 2026. Over the full period it ranged from 20.6% to 110.7%, averaging 56.0%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 38.6% | 39.0% | 39.5% | 38.6% |
| 2025 | 32.3% | 36.3% | 43.0% | 36.9% |
| 2024 | 30.5% | 33.6% | 36.0% | 36.0% |
| 2023 | 32.2% | 41.2% | 51.8% | 32.2% |
| 2022 | 23.8% | 35.0% | 45.0% | 45.0% |
| 2021 | 20.6% | 31.4% | 43.6% | 20.6% |
| 2020 | 58.8% | 65.5% | 71.5% | 71.5% |
| 2019 | 80.3% | 82.2% | 86.4% | 80.3% |
| 2018 | 80.6% | 83.3% | 86.9% | 80.6% |
| 2017 | 84.5% | 94.2% | 110.7% | 84.5% |
| 2016 | 74.7% | 76.2% | 77.8% | 77.8% |
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What fraction of free cash flow is paid out as dividends. More reliable than the earnings-based payout ratio because cash is harder to manipulate through accounting choices. Low ratio = room to grow the dividend and absorb an earnings dip. High ratio = dividend is consuming most of the cash generated.
TTM Dividends Per Share / (TTM FCF ÷ Shares) × 100%A steadily rising FCF payout ratio warrants scrutiny only if FCF itself is flat or falling — that means the company is paying out a larger slice of shrinking cash. A high but stable ratio in a capital-light business (e.g. consumer staples) can be perfectly sustainable.
- FCF can be lumpy: large one-off capex or working-capital swings distort a single year. Look at the multi-year trend rather than any single data point.
- Utilities and REITs naturally sustain 60–90% FCF payout ratios; industrials and tech companies typically run 20–50%. Always compare to sector context.
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